Why do traders fail?

cornix · Mar 31, 2014

Even more important: if one caps profits during good days, there may be not enough profits to cover losses and it turns profitable methodology into a losing one!

smallStops · Mar 31, 2014

Interesting.

The lower the amount : the easier it is to reach during one day trading session,
BUT the less motivating it is to do what it takes.

The higher the amount : the less easy it looks, BUT the more motivating it looks.

smallStops · Mar 31, 2014

dbphoenix said:
And that's why so many traders fail. You'd have more fun just going to the casino. Or playing online poker.

I wonder if the failure comes from not knowing when to stop for the day.

cornix · Mar 31, 2014

smallStops said:
Interesting.

The lower the amount : the easier it is to reach during one day trading session,
BUT the less motivating it is to do what it takes.

The higher the amount : the less easy it looks, BUT the more motivating it looks.

Ironically, the $ amount is of secondary importance. Knowing how to extract X ticks is the key. $ amount is achieved by simply scaling up in size while doing exactly the same.

dbphoenix · Mar 31, 2014

smallStops said:
Interesting.

The lower the amount : the easier it is to reach during one day trading session,
BUT the less motivating it is to do what it takes.

The higher the amount : the less easy it looks, BUT the more motivating it looks.

You're starting from exactly the wrong position. If you're not "getting out of bed" because you enjoy trading and because you enjoy the challenge of trading well, you should put your wallet back in your pocket and find something that you do enjoy. Trading for the money is stupid.

smallStops · Mar 31, 2014

cornix said:
Ironically, the $ amount is of secondary importance. Knowing how to extract X ticks is the key. $ amount is achieved by simply scaling up in size while doing exactly the same.

scaling in size or adding number of instruments?

smallStops · Mar 31, 2014

dbphoenix said:
You're starting from exactly the wrong position. If you're not "getting out of bed" because you enjoy trading and because you enjoy the challenge of trading well, you should put your wallet back in your pocket and find something that you do enjoy. Trading for the money is stupid.

If you enjoy actually scoring in $ terms?

cornix · Mar 31, 2014

smallStops said:
scaling in size or adding number of instruments?

Yep. Or that. Or both.

smallStops · Mar 31, 2014

cornix said:
Ironically, the $ amount is of secondary importance. Knowing how to extract X ticks is the key. $ amount is achieved by simply scaling up in size while doing exactly the same.

actually from which target would you say you need to scale up ?
would you say the target is easy to reach?
Obviously the target that made you say say would be worth the effort.
0.1 ? 1? 10? 100? 1k? 10k? 100k? 1m? 10m? 100m?

dbphoenix · Mar 31, 2014

smallStops said:
If you enjoy actually scoring in $ terms?

Then you'll fail.